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Fed policymakers edge closer to opening debate around taper
By Ann Saphir and Howard Schneider
Reuters
WASHINGTON (Reuters) -Federal Reserve policymakers have begun to acknowledge they are closer to debating when to pull back some of their crisis support for the U.S. economy, even as they say it is still needed to bolster the recovery and employment. We are talking about talking about tapering, San Francisco Federal Reserve Bank President Mary Daly told CNBC on Tuesday, referring to the potential reduction of the Fed s $120 billion in monthly asset purchases. Those bond buys, together with near-zero interest rates, are aimed at easing borrowing costs and encouraging hiring and investment.
Fed policymakers have promised to give markets plenty of notice before changing policy, to avoid a repeat of the "taper tantrum" spike in bond yields after former Fed Chair Ben Bernanke surprised markets by flagging a reduction to the Fed s bond-buying in 2013.
Fed policymakers edge closer to opening debate around taper reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.